Skywest Inc

SKYW

Equity

ISIN US8308791024 / Valor 970855

NASDAQ (2024-12-26)

USD 103.77+0.43%

Skywest Inc
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About company

Skywest Inc is a holding company for SkyWest Airlines and SkyWest Leasing, an aircraft leasing company. SkyWest Airlines operates a fleet of nearly 500 aircraft, providing passenger services to 237 destinations across North America through partnerships with major airlines such as United, Delta, American, and Alaska. In 2023, SkyWest Airlines carried 38.6 million passengers.

Summarized from source with an LLMView SourceSector: Consumer Services

Net Income

SkyWest Inc. reported a net income of $76 million for the second quarter of 2024, translating to $1.82 per diluted share. This marks a significant increase from the net income of $15 million, or $0.35 per diluted share, reported in the second quarter of 2023.

Revenue Growth

SkyWest Inc.'s revenue for Q2 2024 was $867 million, up by $141 million or 19% from $726 million in Q2 2023. This increase is attributed to a 12% rise in block hour production and the recognition of $6 million in previously deferred revenue.

Operating Expenses

Operating expenses for SkyWest Inc. in Q2 2024 were $747 million, an increase of $53 million or 8% from $694 million in Q2 2023. The rise in expenses was primarily driven by the 12% increase in block hour production year-over-year.

Capital and Liquidity

As of June 30, 2024, SkyWest Inc. had $834 million in cash and marketable securities, slightly down from $835 million at the end of 2023. The company’s total debt decreased to $2.8 billion from $3.0 billion over the same period.

Fleet Expansion

During the first half of 2024, SkyWest Inc. took delivery of 11 E175 aircraft under its agreement with United Airlines. The company is scheduled to receive an additional 9 partner-financed E175 aircraft in the second half of 2024, bringing the total to 278 E175 aircraft by the end of 2026.

Summarized from source with an LLMView Source

Key figures

99.7%1Y

152%3Y

59.1%5Y

Performance

33.3%1Y

45.7%3Y

65.7%5Y

Volatility